The Coworking Space Industry has taken over the world by storm.
Right now, there are 18,287 co-working spaces all over the world.
There has been an average increase of 2,595 new co-working spaces every year since 2005.
The statistics show how the idea of co-working together, with other freelancers, startups and big organizations as part of a community, has appealed to the millennial generation. This rise in popularity of coworking has given birth to a number of coworking trends that are further spreading the coworking culture among people.
As a result of several coworking trends, coworking spaces are not restricted to working professionals but to freelancers, research scholars and anyone who needs the perfect ambience to bring out the best in him/her.
Studies carried out by various reputed consulting firms have predicted a bright future for the co-working space industry
Jones Lang LaSalle(JLL), through a study, predicted a jump in coworking spaces of 30% to 40% in 2018.
By 2020, 13.5 million Indians will operate out of coworking space. These coworking spaces will seat 10.3 million employees of big organizations. They will also house 1.5 million freelancers and around 1,00,000 startup employees.
The boom of coworking spaces means the decline of traditional office spaces. Coworking spaces offer several advantages over traditional office spaces. Thus, more organizations are shifting towards flexible office spaces.
There are twelve coworking trends that will elevate the coworking space industry to high levels.
The Top 12 Coworking Trends are:
Increased adoption of technology
One of the major advantages of working at coworking spaces is that they offer 24×7 access to their members.
But this 24×7 access comes at a cost. Coworking spaces have to hire managers for both the day and night shifts.
Owners of coworking spaces want to adopt cost-cutting strategies by doing away with coworking managers. Thus, they are shifting towards technology-driven management.
Coworking spaces will make use of access cards, coworking software, etc. in the future.
Coworking spaces are shifting away from manual operation towards complete automation. This makes members feel free to come and go whenever they please.
In an age of artificial intelligence, such a coworking trend will take over the industry.
Coworking spaces offer you a diverse choice of locations. Working professionals want to opt for a coworking space that offers them the freedom to choose their location of choice. They want a coworking space that lets them work at any one of the locations within the city.
Businessmen or workers who travel to other cities want multi-city coworking options. This means that these coworking spaces have branches in different cities too.
Workers also get bored and frustrated with working at the same office day after day. Working at different offices can give them the necessary enthusiasm.
A diverse choice of locations offers working professionals the benefit of working near their residences. This helps save time, energy and money.
More Exclusive Coworking Spaces
One of the latest coworking trends catching on is the creation of coworking spaces for exclusive groups and communities.
Coworking spaces serve as a safe space for workers.
Coworking spaces strive to provide an environment where members can feel comfortable working. They are also about catering to every class of people with every need.
Coworking spaces with exclusive women-only and LGBTQ+ spaces are what’s in store for the future
Felena Hanson, the founder of women-only coworking space Hera Hub says:
“Women have long operated in the business world we didn’t create. So many women feel like outsiders in various industries that it’s great to create a room where our needs come first
Due to the phenomenal rise in women-only coworking spaces, let’s dive into a little more detail.
Women-only spaces offer an environment where women can feel empowered. It provides a space where women can get inspired by other motivated workers.
In a range where the rise in the number of inspiration female figures are going up day after day, it is important that other women are inspired by such female figures.
Thus, women-only coworking spaces are bound to increase women empowerment in society.
Only 17% of all startups have a female founder. Due to the mismatch in the male-female ratio in the workplace, it can get lonely for female workers. They might not be able to network as well with male workers due to issues like sexism and prejudice.
In coworking spaces, women can network with other women. This ultimately increases the number of women in higher administrative positions.
Women-only shared office spaces have the advantage of sharing advice that is relevant to women.
According to a study by Young Women’s Trust, almost half of all female HR directors feel that their workplace is sexist.
It is necessary that more women-only spaces be set up so that women can work in a fair manner.
The percentage of women facing sexual harassment and blatant sexism is too high. Such an environment proves detrimental to the progress of women in offices all over the world. A coworking trend that ensures the creation of women-only coworking spaces is a major step in preventing problems such as these.
Niche coworking spaces
Many coworking spaces are designed only for workers in the legal profession. Some are designed for those in the sports sector.
Niche coworking spaces are the new trend as they help in forming a community that consists of people who are from the same profession.
There are people who wish to work in a community of individuals belonging to the same work background. This can be difficult to provide in a general coworking space, where working professionals and freelancers from different backgrounds and professions work together.
This is how the creation of niche coworking spaces for individuals belonging to a specific profession took place. It’s a necessary addition to the list of coworking trends as coworking is all about solving problems.
Green Coworking Spaces
Another popular addition to the list of coworking trends is incorporating nature into coworking spaces.
The major motive of coworking spaces is to create a community of workers working in optimal surroundings that extract the best out of them. Bringing nature inside coworking spaces is a step in that direction.
In fact, working around nature has been scientifically proven to increase happiness, reduce inflammation, give workers more energy, improve memory and recollection and relieve work-related stress
Viewing images of greenery also benefit workers. Studies show that viewing greenery images can alter the brain’s processing mode and people become more relaxed and focused on the task at hand.
Indoor air quality affects people’s brain functions. Higher air quality and better ventilation lead to significantly better decision-making abilities.
Also, outdoor air has fewer pollutants than traditional filtered air in most offices.
In a world where concrete jungles are expanding by a minute, a small plant can prove to be a sight for sore eyes.
Digital Marketing is the Future!
In today’s world, digital marketing is taking over the world by storm.
Thus, including digital marketing in the list of coworking trends is a no-brainer.
The world’s dependency on digital forms of media means that marketing on the digital platform is absolutely essential. Coworking spaces are not exempted from their influence.
It can be very difficult to market and advertise a coworking space without the aid of digital marketing. As search trends for coworking spaces on search engines are increasing, so are the efforts of digital marketing.
Owners of coworking spaces now realize that a single person or organization who joins the coworking space is a l potential ong term customer. No matter how large the acquisition cost is, gaining a customer pays off in the long run.
Investing in a photoshoot or video shoot and uploading the content on digital media is a great way to let people know about your coworking space.
SEO strategies that boost your coworking space to the top of Google search results is a sure-shot way of generating leads.
When the world is on social media platforms such as Instagram, Twitter and Facebook, using digital marketing to get to potential clients is the obvious choice.
Traditional industries are shifting to coworking spaces
Coworking spaces have generally been used by freelancers and organizations specializing in technology and e-commerce.
However, there is going to be a shift of more traditional sectors like banking, insurance, manufacturing, etc. to coworking spaces. Corporates today want to portray themselves as new-age companies with a more modern approach to attract young talent.
As more and more industries realize the benefits of shifting to coworking spaces, they will shift from traditional office spaces to flexible coworking office spaces.
Most organizations work with a profit maximization motive, so coworking spaces help organizations, be it big or small, reduce cost and maximize profit.
This addition to the list of coworking trends is probably the biggest thing happening today, with large companies like Facebook and Microsoft shifting teams to coworking spaces.
Productivity has increased
It is common knowledge that coworking spaces result in an increase in productivity. Facilities such as yoga classes and gyms will be incorporated to enhance productivity.
Collaboration will also be boosted in coworking spaces to help members network and work together in a cohesive workplace. Coworking spaces also host events, workshops, seminars and meet and greets.
Events like pet therapy and standup comedy could go a long way in increasing productivity at the workplace.
Increased productivity and collaboration efforts are thus major points in the list of coworking trends.
Rise of medical coworking
Medical coworking is an industry that is coming up fast.
Medical coworking is coworking applied to medical practices. Independent medical practitioners share space but not their core business.
An independent physician requires amenities like a waiting room, front desk reception, office cleaning, equipment, and furniture. A physician working at a medical co-working space can save on those by distributing common expenses across practitioners.
One of the major advantages of medical coworking is that the practitioner pays only for what he/she needs. This is beneficial for medical practitioners who have just started out and do not get as many patients as experienced practitioners. This is very cost-effective.
The medical industry has been in the hands of big companies instead of private medical practitioners.
Medical coworking spaces allow the medical practitioner to be financially independent of the big companies.
Thus, private medical practitioners are able to combine their experience with data and empathy, instead of leaving patient health to the data-driven strategies that optimize for profit alone.
Another addition to the list of coworking trends is the impeccable designing of coworking trends. More and more coworking spaces are paying great attention to detail when it comes to the designing of coworking spaces.
One of the more noticeable differences between traditional office spaces and coworking spaces is its interior design.
The interior designing is beautiful and well-executed and this is a point in the list of coworking trends that is improving day by day.
All coworking spaces are equipped with sitting desks, standing desks, sofas, couch, bean bags. Indoor games arena with table tennis, carrom, and foosball are a thing of the past.
New coworking spaces are coming up with better designing that makes working smooth and easy.
Mobile Coworking spaces
Many workers seek that balance between work, leisure and living a fulfilling life. Some choose coworking space over rigid, corporate schedules. Others take a coworking vacation or sign up for a co-living subscription that lets members work and travel around the world at the same time.
The inclusion of mobile coworking spaces in the list of coworking trends was because of its long term implications. Mobile coworking is the ultimate form of flexible work. It merges work and play together to some degree and that is why this point is so important in the list of coworking trends.
More Services offered by coworking spaces
Coworking spaces have started to provide many additional services to members such as babysitting, a chartered accountant, making the coworking space pet-friendly, bank tie-ups for a loan, business account, etc.
Coming up with new ideas for the coworking space is necessary because if not revamped, the customers will leave for newer coworking areas that offer more innovative amenities and services.
This is why it’s an obvious addition to the list of coworking trends
Coworking spaces are the next big thing the world will see. With the number of freelancers and startups growing at an unprecedented rate, the demand for coworking spaces will only increase.
Coworking trends are helping increase the popularity of coworking spaces. Coworking trends increase the types and functions of coworking spaces that attract more and more people to these shared office spaces.
There are coworking trends such as women-only or LGBTG+ coworking that ensures safe coworking communities where people from these communities can interact with each other and thus inspire each other.
Coworking trends such as brilliantly designed shared office spaces are helping attract more and more people to coworking spaces. Apart from this, coworking trends such as offering extra services to coworkers are also being welcomed by people.
And as more and more people and organizations start using coworking spaces, due to these coworking trends, it will lead to competition among the coworking space market players, which will lead to setting up of coworking spaces with advanced facilities.
Coworking trends are thus ensuring that the future of coworking spaces is very bright indeed.
If you want to know more about coworking trends or coworking in general, contact us at www.workstreet.in.